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26 U.S.C. § 742 — Basis of transferee partner’s interest

submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 26 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section states how to determine a transferee partner’s basis in a partnership interest. It provides the calculation rule.

The basis of an interest in a partnership acquired other than by contribution must be determined under part II of subchapter O (sec. 1011 and following).
the actual law source: uscode.house.gov ↗public domain

The basis of an interest in a partnership acquired other than by contribution shall be determined under part II of subchapter O (sec. 1011 and following).

Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 249.)

history & why it existsrecord from the source credit
  • 1954Enacted · Act of Aug. 16, 1954, ch. 736

A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.

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